Business News
-
IMF wants market-base rupee value | The Express Tribune
.
[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has pressed Pakistan to let its currency gain the real value amid the country’s tighter currency controls, which have now created a black market for dollars and also discouraging foreign inflows through regular channels. However, Islamabad has not accepted the IMF’s stance on the grounds that the State…
-
Gold price retreats from all-time high in Pakistan
.
[ad_1] An undated image of a woman holding gold bangles. — AFP/File Gold prices snapped their 12-day-long gaining streak on Friday as investors holding long positions took profits, however, the outlook remained bullish with rates hovering near a record peak. According to All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold plunged…
-
Rupee continues to inch down against dollar
.
[ad_1] A currency dealer counting $100 notes while a stack of Rs500 is placed on table. — AFP/File The rupee continued a downtrend against the US dollar for a fourth successive session, with negative sentiments on the country’s dwindling foreign exchange reserves taking a toll on the local currency. The local unit closed the day…
-
PIA, private airlines jack up domestic fares | The Express Tribune
.
[ad_1] KARACHI: The Pakistan International Airlines as well as private airlines have exorbitantly increased their domestic fares. The tickets have become extremely expensive because of the upcoming Christmas, winter holidays and New Year’s eve. According to sources, the main reason for the tickets becoming so expensive is the huge gap between demand and supply. The…
-
SBP forex reserves fall to level less than 40 days of imports
.
[ad_1] An undated image of a currency dealer counting $100 notes. — AFP/File The foreign exchange reserves held by the State Bank of Pakistan (SBP) plunged over $500 million to their lowest level since April 2014 during the week that ended on December 16, the central bank said on Thursday. The central bank, in its weekly…
-
S&P downgrades Pakistan’s credit rating | The Express Tribune
.
[ad_1] KARACHI: S&P Global Ratings has downgraded Pakistan’s credit rating in the wake of its quickly depleting foreign exchange reserves – which are close to hitting a nine-year low at $6.11 billion on Thursday. “S&P also raised the outlook for Pakistan to stable from negative,” reported Bloomberg, citing a statement from S&P. “The nation’s credit…
-
CDWP clears seven projects costing Rs116b | The Express Tribune
.
[ad_1] ISLAMABAD: The Central Development Working Party (CDWP) on Thursday cleared seven development projects worth Rs115.80 billion in a meeting held under the chairmanship of Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal. The projects were related to the Ministry of Communications, Ministry of Housing and Works, Ministry of Planning and the Higher…
-
SBP’s forex reserves fall to 8-year low at $6.1 billion | The Express Tribune
.
[ad_1] KARACHI: In its latest weekly update on Thursday, Pakistan’s central bank reported the country’s foreign exchange reserves have depleted to $6.11 billion. “During the week ended on December 16, 2022, SBP’s reserves decreased by $584 million to $6,116.2 million due to external debt repayment,” SBP said in a statement. The foreign exchange reserves held…
-
‘The Crown’ is branded ‘sick’ for THIS particular Princess Diana episode
.
[ad_1] The Crown is losing score in front of the audience amid filming of Princess Diana’s death scene. A Twitter user writes, “This latest from #TheCrown5 is sick!” as makers prepare to film the particular episode. Meanwhile, an onlooker told The Sun: “They actually made Elizabeth climb into a coffin and play dead as Diana. Viewers…
-
Govt indecisive on sugar procurement | The Express Tribune
.
[ad_1] ISLAMABAD: Utility Stores Corporation received bids for sugar procurement two weeks earlier but it has been unable to take decision so far. Sources said that the corporation received Rs11 more in bids than the last year price with Jahangir Tareen’s mills giving lowest price of Rs90 per kilogram. It is to be noted that…
